Ricky, Jimmy, Billy, Danny and Ella organized a corporation named Helping Hands, Incorporated which aimed to help the pure students in their community by giving the proceed of their business to the less fortunate. The corporation is organized as non-stock, non-profit, but they allow a payment of honorarium or allowance to the trustees every board meeting. At the end of 2021, the Bureau of Internal Revenue (BIR) issued a notice to Helping Hands, Incorporated, demanding that the said corporation pay the corresponding income tax for corporation. Ricky object to the contention of the business on the basis that they are a non-stock, non-profit corporation, thus they are exempt from income tax. Is the contention of Ricky correct?